An interesting article in the NYT Week In Review describing how the utter dominance of free market thought and trust in Libertarian ideology is starting to crack. http://www.nytimes.com/2007/12/30/weekinreview/30goodman.html?_r=1&oref=slogin&pagewanted=all The article misses some other straws in the wind. Recently two members of the (Bill) Clinton Administration economic team — Paul Krugman and Joseph Stiglitz — have issued partial mea culpas for their failure to recognize the potenti

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Washington Times | Dec 26, 2007 by Patrice Hill This year’s housing bust is shaping up to be one of historic proportions. Sales and construction have sunk to levels not seen since the 1990 savings and loan crisis, while foreclosures and price drops are the largest since the Great Depression — and expected to get worse next year. Many parallels can be seen with earlier housing debacles. Each episode had some combination of easy money, loose lending, greed and fraud that turned a housing boom

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There is no arguing that your home is your greatest asset. As the cost of living goes higher and higher, you may decide you want to get a second mortgage on your home. The money that you receive can b…

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The government has lost its reputation for economic stability, and has seen a massive hole blown in its spin that it created an independent Bank of England, as a result of the convulsions in credit markets and the run on Northern Rock. Ever since Gordon Brown took over as Prime Minister, things have gone badly awry in banking markets. We have lived through the end of the long financial bubble of easy credit he created as Chancellor by keeping interest rates too low and agreeing to the Basel ru

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There’s one question that’s been raised quite a lot in recent months: Where were state and local regulators, industry watchdogs, and our elected leaders when the foundations of the current credit crisis were being laid by rogue — and not-so-rogue — elements in the financial services industry? While some say they were simply asleep at the switch, others believe the reasons are more nefarious. In a post last week, “The Newest Banana Republic?” I drew attention to a Center for Public Integrity

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So you wish to apply for a Colorado refinance. Problem is, you are totally new to the whole business and are totally ignorant, even of the basics. What you need is a quick introduction and that’s exac…

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Thinking of getting a home equity loan? Make sure you know just what to expect and what you are getting yourself into. Read on and know the benefits and costs of equity mortgages.

Known also as a…

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The Federal Home Loan Bank of Indianapolis announced on Friday a new $100 million lending initiative, HomeRetain, to help FHLBI financial institution members assist families facing foreclosure. In a press statement, the FHLBI said that HomeRetain will split available funds between members in Indiana and Michigan, and that funds may be used to modify or refinance mortgages for primary residences in any state in which a member does business. “The increase in home foreclosures and mortgage delin

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I bought home almost 4 years ago. When buying the home I did not plan on moving so I took a 80/20 with a $3000 prepayment penalty if I paid it off in the first three years (I almost wonder if I saved my butt sine it changed into a variable rate after three). I ended up moving after 2 and a half months A mortgage broker friend suggest and helped me get a Opt 4 mortgage incase there are no tennants and I could pay a very low payment if I chose. In refinancing, it added on that prepayment penalty a

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Private Mortgage Insurance or PMI is defined as the insurance policy paid by the homebuyer when the amount of their primary mortgage is greater than 80% of the value of the property.

R…

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